Social Trading Forex Brokers

What is Social Trading?

Social Trading is an environment where interaction between the traders is an ongoing process with an aim to share knowledge with other traders.

This service provided by the brokers known as Social Trading Brokers that unites traders and creates the community of traders, in reverse allowing vast of opportunities to trade, copy or compare trading strategy.  while even traders with zero knowledge can trade on financial markets by replication of expert traders’ orders.

So, in simple words, Social Trading is the activity to learn which strategies work, which are not, with an opportunity to duplicate or become an expert while all brought by a very attractive cost, with the only payment a small markup on the successful trades.

Read more about Social Trading via Wikipedia.

What makes Social Trading Platforms

Social Trading trend is popular in recent years owing to the enhancement of trading activity as well as an attractive idea not to rely only on fundamental or technical analysis to form the decision but to share trading techniques.

Typically, Social Trading Platforms offering the selection of traders to follow and replicate their trading activity via Copy Trading and Auto Trading, meaning to allow software execute orders on your account replicating the master account you select.

What you should consider while choosing a Social trading broker is a number of great traders with consistent profits, it reverse meaning its trading strategy is strong and well managed.  Social Brokers considering always the important parameters on providers’ evaluation and usually provide specified ranking and easy to use a selection of the traders to be copied.

Among its criteria that involve a percentage of successful operation for every financial instrument traded and synchronization between the accounts, the broker should provide a user-friendly platform suitable for beginners.

Royal Financial Trading social trading
Royal Financial Trading Social Trading

Best Social Trading Forex Brokers

In fact, recently there are many platforms available, while most of them are almost the same feature with the major difference of trading community size.

Nevertheless, only well regulated and respected brokers provide a safe social trading environment and trading itself, otherwise, the risk of losing money is very high for the reason of simple manipulation. Learn more about regulatory warning of Social Trading provided by SEC.

  • Pepperstone – Best Overall Social Trading Broker 2020
  • AvaTrade – Best MT4 Social Trading Broker 2020
  • GO Markets – Lowest Spread Social Trading Broker 2020
  • eToro – Best for Beginners Social Trading Platform 2020
  • OctaFX – Best for EAs and Social Trading 2020

The complete List of Forex Platforms offer Social Trading

These are the brokers that are offering Social Trading environment either via its own designed platform or through third providers like ZuluTrade of Myfxbook:

Broker Detail
FXOpen Review FXOpen
Min. Deposit: 1 US$
Max. Leverage: 1:30
Trading Platforms: MT4, MT5, TickTrader
Regulation: FCA
FXOpen Review